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10 Ways To Build
Your Brand…A Casket
Will We Be Mourning Your Brand or Industry Next?
Before you go reaching for the box of tissue, this presentation isn’t meant to be a downer. It’s to
inspire new innovative ways for looking at your business. It’s quite simple really, those brands that can
rethink and re-imagine their core strategies will live longer, healthier, and more prosperous lives. But
those that fail to embrace change and take intelligent risks, will likely become another sad statistic.
Now you’re scratching your head wondering where it all went wrong. Just being ‚the cheapest cool
money can buy‛ can’t keep you perched atop the merchandising mountain for long. Customers are
increasingly demanding more style for their money (yes, that means you have to pay attention to
them). Just because an old business model got you to where you are today, doesn’t mean it’ll be
around to thrive tomorrow.
#1
Treat Your Customers Like Individuals
Everyone loves a great deal, but that doesn’t mean they’re comfortable running around in Mom Jeans.
You don’t have to run a fashion blog to know that personal style is where it’s at these days. The
economy may be going backward, but affordable fashion is charging forward.
Swedish retailer H & M recognized that consumers wanted high fashion at value prices. So instead of
following the lead of its U.S. competition and rolling out merchandise on a ‘seasonal’ basis, this
discount fashion chain has been winning by introducing new, fresh designs daily and they turn over
their entire store inventory at least eight times a year. The result? Fuller dressing rooms and a long
line of happy consumers that can’t wait to see ‘what’s new.’ Speed can be a powerful asset.
#2
By outthinking and out executing the blindsided music labels and chain retailers, Apple was able to
make the unheard of transition from consumer electronics brand to one of most powerful
entertainment brands in the world. Psst…since 2003, they’ve sold more than 6 billion songs through
their iTunes store and roughly 200 million iPods. How ‘bout them apples?
#3
Many thought ESPN (and Disney) were nuts when they launched a sports magazine to complement
their popular sports network, but no one’s laughing now. When they spotted trouble, they quickly put
a bullet in their magazine’s website and have merged all of their online content into the premium
ESPN Insider service, which costs $6.95 a month, or $39.95 a year. So far the Insider has 350,000
paying subscribers and has other media executives watching the ball go over the fence. Freemium
business models aren’t for every industry, but for these sports guys it’s been a home run.
#4 Don’t Act Desperate Or You’ll Get Dumped
A nasty side effect from being desperate or maybe just intoxicated by their own success, brands can
themselves in places they just shouldn’t be. Seriously, what makes a seemingly wise executive green
light crazy ass (and expensive) brand extensions that on paper smell more like Saturday Night Live
skit ideas than they do viable revenue-generating opportunities? When you’re done booking your
flight on Hooter’s Airlines and applying that Cheeto’s Flavored Lip Balm, take a moment to re-focus.
Before you even think about developing a brand extension to try to ring out the last drops of
credibility from your brand, first figure out how to extract the most value from your core
competencies.
#4
Those antiquated tactics may have worked yesterday, but in today’s consumer-controlled economy
you attract eyeballs and make cash registers ring by offering up remarkable brand value. Sure, all
consumers watch their wallets, but brands must move beyond price to truly break through and
compel a consumer. Get to know them. Emotionally connect with them. They will gladly dole out a
few more cents for a higher quality and more meaningful customer experience. Make your brand
stand out (again) or you could soon find yourself gasping for air instead of performing your
customary yodel.
#5
Smart Strategy Trumps One-Off Tactics
When you’re at the top, you must be able to withstand blows from your harshest critics. Say what you
want about Wal-Mart, but the retail giant continues to hum along, having just re-branded their image
to emphasize more value and sophistication. Their new tagline, ‚Save Money. Live Better‛ tells
consumers they can still live their lives with the same luxuries they’re accustomed to, but they’ll just
need to shop smarter (take that Target…).
The best re-branders are those companies that consistently deliver on their respective brand
promises, continuously explore unchartered waters, put strategies ahead of tactics and listen to and
understand their core target (Hi mom!) like attentive psychiatrists.
#6
Betting Everything On The Brand
(don’t forget about the product…)
Starting your own MVNO (aka cellular re-seller) is already an extremely risky proposition but
that didn’t stop Amp’d Mobile and their convincing CEO from raising a cool $360 million dollars
to launch one with a core value proposition based entirely on content. If that idea wasn’t thin
enough (similar plays from Disney, ESPN, and Helio have all failed in the states), their phones,
service, and content were being marketed and sold to free-spending (but cash-strapped and
internet savvy 18-24 year olds). Unfortunately even a powerful, sexy brand can’t overcome a
bad business model and flawed execution. Bottom line: if the smarts coming out of the
company’s executive offices aren’t as sharp as the target consumers on the street, you’ll have a
very short shelf life and probably wind up in court.
#6
Recently, there’s been a spike in the number of acquisitions in the growing ethical consumer packaged goods space.
By acquiring smaller but more socially-constructive brands, some of the world’s biggest consumer brands are reaping
both financial and social rewards. Whether it’s Colgate-Palmolive acquiring Tom’s of Maine or Kellogg’s snatching up
Kashi Foods and Gardenburger, these partnerships are designed to boost both profit but also to rub off that glaring
missing ingredient in the bigger parent organization – responsibility.
#8
Slow To Respond To Market Shifts
Let’s see, what do you get when you add up a lack of foresight, a lack of innovation, and a profound lack of timing?
Blockbuster was one of the most powerful brands in home video (and the U.S. for that matter), but now like an omitted
scene from a movie on their shelves, they too could wind up on the cutting room floor (and you can’t blame the
economy for this one).
The very first national video chain who was known for charging late fees is now on the verge of going out of business
for their own delayed response. We know how this movie ends…
#8
Unleash A Disruptive Solution
It doesn’t matter how big and scary your company is, there’s always an aggressive innovator lurking in the shadows just
waiting for the perfect moment to take you out.
Netflix was able to slay the home video giant by not doing anything too complex, but by simply offering up a more
customer-centric solution and experience. They disrupted the market by introducing only two changes to Blockbuster’s
model; they first eliminated those annoying late fees and then flipped the script on how movies were distributed –
through the mail and delivered right to your doorstep. Do you have a market disruption strategy for your brand?
#9
Is your organization and outside agency properly staffed and positioned to break out of its comfort zone to develop
‘never been done before’ ideas? If not, it may be time to grill a few of those sacred cows at the next company BBQ.
#9
Outsiders can think outside of the corporate box because they don’t have to live everyday within those walls. In turn,
they can bring a refreshing perspective to an initiative. You need a team that isn’t concerned with protecting existing
fiefdoms, and who will never ever sit in a meeting and utter ‘the’ innovation kryptonite, ‚but that’s the way we’ve always
done it‛. Lastly, if you go this route, make sure you assign an internal all-star to help champion this new breed of thinking
to their peers.
#10
The future will belong to those that don’t just settle for trying to re-create their past. After all,
innovation only comes to those that relentlessly pursue it…
Recent brands we’ve helped break through… North is a California-based ‘rethink tank’ that
helps select companies reinvent and re-position
North played a key strategic role in the
themselves to break through in today’s idea-
development of play.it, CBS Radio’s new driven economy.
media player application. play.it brings all
stations and assets in the CBS Radio
network together, providing a wide choice If you have an exciting and challenging initiative
of formats for both users and advertisers.
and want to get it pointed in the right direction
send a short email introduction to
sharpen@dontgosouth.com and we’ll set up a
In just 90 days, the North team built out a
comprehensive brand communications strategy, time to talk shop.
developed the global call to action, and created
and wrote all consumer-facing messaging for the
historic 7-continent concert series that inspired a
global movement to combat the climate crisis.
Remember, if you’re not growing - you’re dying.